By the year 2027, compound semiconductors market size of over USD 15.87 Billion


What is a compound semiconductor?

Compound semiconductors as the name suggests are made up of two or more elements. In technical terms, it is noted that compound semiconductors are made up of a combination of elements like Group III and Group V of the periodic table. According to the market database, other compounds are made up of Group II and Group VI elements from the periodic table. In the past, it was recorded that the use of compound semiconductors was minimal across commercial applications as well as high production applications. Market research tools suggest that these crystals are noted to be more difficult to grow as compared to silicon primarily due to the number of crystal defects being higher. Moreover, the cost of production associated with compound semiconductors is noted to be high owing to which their application was curtailed to high-value products.

The market analysis states that in recent years, the advancement of innovation and technology aggradations have led to a reduced cost of production for compound semiconductors. Compound semiconductors are noted to have distinct physical and chemical characteristics as opposed to silicon which promotes its application across other commercial markets.

Market research tools state that on doing a comparative study, it is noted that compounds like GaAs and InP have higher electron mobility as compared to Silicon. Thus their application in high-speed operations is considered more optimal as compared to regular semiconductors. Compound semiconductors can also produce and receive a wide range of electromagnetic radiation, from long-wavelength infrared light to high-frequency ultraviolet and visible light. Thus it is noted that they have the capacity to the sensor and emit light in the form of communications and general lighting (LEDs) (lasers and receivers for fiber-optics).

Applications of Compound Semiconductors as per Market Database

According to compound semiconductor market analysis, it is noted that compound semiconductor wafers are used commonly across applications including photonics, microelectronics, spintronics, photovoltaic, etc. Business intelligence tools state that the compound semiconductors market growth is predominantly accelerated by its increased usage in consumer electronics as well as the automotive industry. The use of compound semiconductor wafers across the said verticals over silicon is poised to accelerate the mentioned sector’s market growth dynamics.

The market analysis presents that the increased market penetration for semiconductors within the ICT domain and the growing proliferation of IoT-based technologies are expected to be another factor that is anticipated to bolster the compound semiconductor market growth. The high sensitivity associated with compound semiconductors is expected to be one of the key factors that promote its usage across sensors.

They are noted to be sensitive to both lights as well as magnetism. The high sensitivity of semiconductors towards light supports its application in devices such as photodetectors.

As per business intelligence tools, the increased use of compound semiconductors in LED-based applications is also poised to boost the market growth dynamics. The market analysis states that compound semiconductors are popularly known for their ability to function across low voltage applications and their ability to generate light, both of which can apply to LEDs. Compound semiconductors are also recorded to be highly resistant to both heat and light. This property promotes their usage across space applications in solar cells for satellites.

Compound Semiconductors market trends

GaN semiconductors account are one of the key types of compound semiconductors that are commonly used across both commercials as well as automotive applications as per business intelligence tools. The commercialization of this compound took place in the year 2010 and increased usage across high-value products has led to an overall acceptance of its high price across the whole market.  According to the market database, the GaN market is anticipated to attain a value of USD 2 Billion by the year 2027. The market entry of new players such as  STMicroelectronics is poised to increase the adoption of monolithic powered ICs based GaNs in a variety of mobile chargers with powers ranging up to 130 W. These chargers are known for their consumer-friendly prices which are poised to bolster the overall adoption of GaNs within the market.

Market research tools suggest that one key drawback of compound semiconductors is their high price, i.e. the high cost of material translates to limited usage of this product across high-volume production applications.